Question 1

What is the conforming loan limit in Santa Clara County?

Accepted Answer

The FHFA sets conforming limits annually for high-cost areas like Santa Clara County. Anything above that limit falls into jumbo.

Question 2

Can I get a jumbo loan with 10% down in Sunnyvale?

Accepted Answer

Some lenders allow 10% down on jumbo. Expect stricter credit and reserve requirements at that down payment level.

Question 3

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Jumbo rates can match or beat conventional at high credit scores. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders want 700 or above. Some go to 680, but pricing gets worse below 720.

Question 5

How many months of reserves does a jumbo lender require?

Accepted Answer

Twelve months is common. Some lenders push higher depending on loan size and credit profile.

Question 6

Can I use gift funds for a jumbo down payment?

Accepted Answer

Gift fund policies vary by jumbo lender. Many restrict or limit gifts — conventional is more flexible here.

Conventional vs Jumbo Loans in Sunnyvale, CA